NEW YORK–Deutsche Asset & Wealth Management’s (Deutsche AWM) Alternatives and Real Assets (ARA) business today announced that it has acquired One Powell in San Francisco, CA, on behalf of one of its real estate investment funds.[contextly_sidebar id=”EQR9cz8oH557VHZEQYFryjsmiGPSV1hg”]Originally built in 1921, the Class-A retail location comprises 39,108 square-feet and is currently 100% leased. The iconic property is located at the intersection of Powell and Market Streets and services San Francisco’s major employment and tourist destinations of Union Square, Mid-Market, SoMa, and the Financial District.
“One Powell is a best-in-class, high-street retail property situated at the gateway of San Francisco’s most powerful desired retail corridor,” said Todd Henderson, Head of Real Estate in the Americas for ARA. “The iconic location and high caliber in-place tenants should provide the fund with a consistently strong income stream for years to come.”
Deutsche Asset & Wealth Management – Real Estate
Deutsche Asset & Wealth Management’s real estate investment business has been investing in real estate assets for more than 40 years. As part of the Alternatives and Real Assets platform, this business today has more than 450 employees around the world, USD 51.1 billion in assets under management as of June 30, 2015, and offers a diverse range of strategies and solutions across the risk and return and geographic spectrums, including core and value-added real estate, real estate securities, real estate debt and opportunistic real estate. The real estate investment business employs a disciplined investment approach and aims to deliver superior long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans and private clients worldwide. To learn more about Deutsche Asset & Wealth Management’s real estate investment capabilities, please go to www.deutscherealestate.com.